Spectator on facebook

Spectator on facebook

CORPORATE BRIEFS

Slovak Rail ends first half with 2 billion crown loss

Železnice Slovenskej Republiky (ŽSR-Slovak Rail) reported on August 5 that it had ended the first half of the year with losses of 2.04 billion crowns ($49 million), an 847 million crown improvement over the same period last year and 33 million crowns less than called for in ŽSR's business plan for 1999.

Costs remained almost unchanged, up 0.6% from 1H98 at 11.4 billion crowns. Revenues increased 10.9% to 9.4 billion crowns, largely a result of ŽSR's having moved into the revenue category 1.02 billion crowns that had been created in reserves against financial costs.

Sales from passenger and freight transport accounted for 68.5% of total revenues, while state subsidies made up 11.8% of ŽSR's income. Wages were the firm's highest cost (41.8% of the total).

External indebtedness swelled 1.6 billion crowns to 32.5 billion from the beginning of the year, although some progress was made in restructuring the company's debt portfolio; in late June, long-term loans accounted for 51.7% of ŽSR's total loans and debts.

ŽSR signed a contract with the European Investment Bank on the provision of a 200 million EUR loan in late July.

Top stories

EU roaming fees to end on June 15 – in theory

Slovak customers still waiting to find out how mobile operators will implement change.

Archaeologist pieces together early history of what is now western Slovakia Photo

For an archaeologist, the most important thing is his most recent rare discovery, says Július Vavák.

Students visited Svätý Jur as part of their European Wanderer project

How to sell Slovak books to English readers

Slovak literature makes it to the big bookstores of London, but it is unlikely to become a bestseller yet.

On Wednesday, Slovak literature will be presented in one of the biggest bookstores in London. Among the new books translated into English is also the anthology of current Slovak prose selected and translated by Magdalena Mullek and Júlia Sherwood.

General Prosecutor filed a motion for the dissolution of ĽSNS

The Slovak Supreme Court received a motion to dissolve the extreme right ĽSNS party founded and led by Marian Kotleba.

Jaromír Čižnár